FG recovers over $967.5 million, ₦277bn in 2024 anti-corruption drive — Fagbemi

By Kunle Sanni

The Federal Government has recovered over $967.5 million and ₦277 billion in cash and assets linked to corruption and criminal activities in 2024 alone, according to the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN).

Fagbemi made the disclosure on Tuesday at the Asset Recovery Summit organized by the Ministry of Justice in Abuja, where the government also unveiled the National Central Database of Forfeited Assets.

Providing a breakdown of the recovered assets, the Attorney General revealed that the Economic and Financial Crimes Commission (EFCC) recovered more than ₦248 billion, $105 million, and 753 duplexes through its anti-corruption efforts. The Independent Corrupt Practices and Other Related Offences Commission (ICPC), he said, recovered ₦29.685 billion in cash and $966,900 in assets.

He also noted that the National Drug Law Enforcement Agency (NDLEA) has intensified asset seizures related to drug crimes, cutting off illicit proceeds that could fuel further criminal activity.

“Asset recovery is a fundamental pillar in our collective fight against corruption, economic crimes, and illicit financial flows,” Fagbemi said. “It not only serves as a deterrent but also ensures that criminals are deprived of the benefits of their actions.”

Highlighting the government’s ongoing commitment to transparency and accountability, Fagbemi said the recovered funds are vital for restoring public trust and fostering sustainable economic growth.

He also provided an update on international asset repatriation. From 2017 to date, the Ministry of Justice, in collaboration with international partners, facilitated the return of approximately $763.7 million and £6.47 million through various bilateral agreements and legal processes.

“These efforts reflect Nigeria’s unwavering dedication to financial accountability and the rule of law,” he added.

Related Articles

Back to top button